- Providing world class service and value for employee benefit group plans since 1987
A company owner’s priorities should include finding the right group health solutions and protection for their employees if they want to flourish as business in Texas. Our licensed brokers will go over your options while keeping your financial constraints at the forefront of their mind. Due to our long-standing history in the industry, we’re able to tailor plans and negotiate all costs while still remaining in compliance with government code and the ACA.
Due to the requirements established by the ACA (Affordable Care Act), any company employing fifty or more workers must offer health coverage. The legislation also created rules about coverage and affordability. While many large companies offered protection even before the ACA required it, the quality and comprehensiveness varied.
One approach some larger companies take to maintain their coverage while managing costs is self-funding. Self-funding means that instead of buying insurance, the company pays directly for the employee’s medical claims. This method is invisible to the employees, who submit their claims as usual. The attraction for the employer is that they have more control, may have better cash flow, and often save money overall. But they must also be willing to accept the risk that several abnormally high claims may push costs over the expected level. Companies can mitigate that risk with a stop-loss policy which can limit their overall exposure. Most also engage a third-party administrator to process claims.
Self-funding is riskier for small companies attracted by the potential cost savings. Since they have fewer subscribers, facing a couple of significant claims can disrupt their budget and overcome any savings. As a result, some businesses may choose level funding, a hybrid of full coverage and self-funding. It offers smaller savings than a self-funded program but limits the organization’s financial exposure.
In surveys about employee benefits packages, workers typically claim they want their employer to provide a retirement savings plan. However, participation rates are low in companies that offer one. Large companies are more likely to offer such a benefit, often a 401(k) plan.
However, even small companies have some new and helpful ways to assist workers with retirement savings. The SEP-IRA (Simplified Employee Pension Individual Retirement Account) may be a good choice for companies with fewer than twenty workers. It’s flexible because the owner can decide whether to contribute each year.
Larger companies can consider the SIMPLE IRA, which has more options. In either a SEP or SIMPLE plan, any contribution the business makes immediately belongs to the account holder with no vesting period. This provision contrasts with the sometimes-lengthy vesting periods for accounts like 401(k) plans. In addition, this waiver of vesting provides the employer with a safe harbor for compliance with nondiscrimination protocols, increasing the simplicity of compliance.
Learn more about Arlington employee benefits packages offered by Taylor Benefits.
The cost of health and life insurance in Arlington, Texas gets reduced manifold by comparing and opting for solutions provided to students, an individual, or small businesses. We have software to enter demographic information and receive quotes from different medical insurers. After a thorough study, you can easily choose the correct healthcare policy for you.
Do you have Pre-Existing Conditions? Don’t worry, try our affordable health coverage plans to receive group health protection before 2014? We also offer services such as Life insurance, Long Term Care, Disability insurance, Critical Illness, Dental insurance, Term life insurance, Gap, Temporary, Retirement plan, and Medicare Supplemental Policies.
The insurance industry is always changing and evolving, and we try to keep ourselves updated about these changes. We have the expertise to deal with regulatory issues such as HIPAA and product designs to successfully implement health protection plans.
Taylor Benefits is associated with some of the best local or national health coverage companies. We have the best, licensed broker who helps you in choosing the best health coverage products according to your needs. We try to find the best insurance products for you from companies that have high ratings. Our programs offer hospitalization in a private suite or twin-sharing suite.
All the full-time team members are eligible for getting small groups plan in Arlington County. A minimum of 2 workers are a must to apply for voluntary plans in Arlington, TX. A person should be in service for a minimum of 30 hours per week to get dental, life, or disability insurance. No residents should be denied coverages or reimbursement if they qualify for the same.
For more information, contact Taylor Benefits Agency office to discuss and purchase the health solutions for your team members. All LLC companies are eligible for a plan with original text from the company. We will do a complete review and then assist you with the related solutions as per your needs. No matter if you are on a vacation, you will be still covered under the LLC group insurance.
employees frequently take sick leave due to the rise in number of diseases. As Medicare costs are on the rise, having flexible spending accounts for eligible workers is a must. Providing them with term life insurance along with health solutions is also beneficial. Once they have the medical coverage, the Medicare cost is borne by the insurance company. So, employees with a low income get protected from high medical bills for an accident or illness.
Thus, it can be related that it is win-win situation for employees and employers. Employees get access to health plans from Aetna and employers get licensing agreements for coverages for the next 5-10 years in Arlington, TX.
Auto cost savings is the primary benefit of having a small business coverage option in Arlington, TX. The workers with low income can also enroll their spouse and child on the advice of the company so that all of them get proper coverages in case of any emergency. With low premiums and high coverage, you get the best services from Taylor Benefits.
All the dental and vision coverage are provided as add-ons for team members.
Providing health coverage and life insurance to your employees gives you a health tax credit. This is applicable for small business owners in Arlington, TX. So, you can review the benefits you get with paying out small premiums. All businesses qualify for life and health protection in Arlington, TX.
Need Group Health Insurance in Arlington? Contact us today at 800-903-6066 and we will do a review for your needs.
Todd Taylor oversees most of the marketing and client administration for the agency with help of an incredible team. Todd is a seasoned benefits insurance broker with over 35 years of industry experience. As the Founder and CEO of Taylor Benefits Insurance Agency, Inc., he provides strategic consultations and high-quality support to ensure his clients’ competitive position in the market.
Todd Taylor with Taylor Benefits gives our small business the kind of personal service we need. Insurance benefits are important to our employees and Todd helps us find a balance between benefits and value. Todd responds immediately to my phone calls & e-mails. He has even gotten in touch with me on a Sunday when we were in need of coverage answers immediately. We are very pleased with the hands-on service Todd and his staff provide.”
-Ken and Linda Orvick, Orvick Management Group, Inc.
We’re ready to help! Call today: 800-903-6066